Market Benchmark Study for a Leading Pipe Manufacturer in India

The Challenge

A prominent developer and manufacturer of pipes for various applications in India, known for its presence both nationally and internationally, needed to understand its market positioning. The company aimed to conduct a market benchmark study in nine key cities across India to gauge where they stood in comparison to their competitors with respect to several factors like price, demand, quality, and more.

The challenges were manifold:

• Conducting comprehensive face-to-face interviews with a variety of stakeholders including retailers, plumbers, contractors, and Head Masons.

• Collecting insights on the perceptions, preferences, and influencing factors of various brands, not limited to price but also quality, availability, after-sales service, and more.

• Understanding the Market Operating Price (MOP) for various SKUs across diverse geographical locations.

The Solution

TrackBee, known for its precision and methodical approach, designed a robust methodology to meet the client's demands:

• Field Visits: Visiting nine cities in different regions of India (North, West, East, and South) to conduct approximately 25 interviews per city (20 with retailers and 5 with plumbers). Additionally, we engaged with household owners, contractors, and decision-makers.

• Use of TrackBee Data Collection Tool: To ensure accuracy and efficiency, TrackBee utilized its proprietary data collection tool to capture data from the field. This technology-enabled a seamless collection of critical information and facilitated real-time monitoring and analysis.

• Analysis of Competitors: Analyzing the market operating price and perception for competitive brands and understanding various influential factors such as incentives, quality, market support, regular availability, loyalty programs, etc.

• Insightful Techniques: TrackBee utilized face-to-face interviews and strategically selected major locations within each city, after consultation with the client, for a meaningful representation.

• Incentivization and Verification: Ensuring quality insights by incentivizing respondents and collecting tangible proof like visiting cards and photographs.

• Product Focus: Concentrating on two types of SKUs, CPVC & SWR, with a total of around 50 SKUs considered.

The Result

TrackBee's systematic approach and meticulously conducted research provided the client with valuable insights:

• Competitor Analysis: The study revealed critical information on how the client's brand was perceived in comparison to competitors in terms of quality, price, availability, and other essential factors.

• Stakeholder Insights: Understanding the role of influencers in purchasing pipes and the value-added services that other pipe companies provide helped in shaping strategic decisions.

• Informed Strategy: The client was empowered to develop targeted marketing and sales strategies for different regions, based on the detailed analysis of retailer and plumber perceptions, preferences, and expectations.

• Enhanced Positioning: The insights garnered led to the fine-tuning of the client's offerings and positioning, enabling them to strengthen their market presence and make informed decisions for future growth.

In conclusion, TrackBee’s comprehensive approach to the market benchmark study provided the client with the strategic insights necessary to understand their standing in the market and to shape their future growth plans accordingly. This case exemplifies TrackBee's commitment to delivering results-driven solutions tailored to the unique needs and objectives of the client.